Source: Randall K. Johnson, Mississippi College School of Law Research Paper No. 2015-03 September 29, 2015
From the abstract:
This article identifies a novel approach to public pension reform. It does its work in, at least, four ways. First, the article encourages better use of public sector resources by calling for the elimination of public pension inefficiencies. Next, it explains how to reduce public pension inefficiencies, at least on a prospective basis, by moving away from defined-benefit pension plans. The article also describes a way to move beyond defined-benefit pension plans, which calls for the creation of a new tax expenditure program (Pension Waiver Credits). Lastly, it explains how to implement this new tax expenditure program: so as to optimize the use of public sector resources.